With funding supporting reindustrialization, the company seeks to disrupt the automotive industry with its affordably priced American-made truck, boosting Indiana’s economy.
In a major milestone for the American automotive industry, Slate Auto has officially announced the closing of a $650 million Series C funding round.
Slate is an American automotive company founded in 2022, dedicated to building affordable, customizable vehicles.
By simplifying the manufacturing process and focusing on reindustrialization, Slate aims to provide vehicles that drivers can truly afford, personalize, and love.
Led by TWG Global, this infusion of capital positions the company to begin production of its highly anticipated, modular vehicle: the “Slate Truck”.
The company touts over 160,000 reservations already on the books. It expects to begin delivery of its American-made vehicle by late 2026.
Fueling the Future of Affordable EVs
The Series C round provides Slate with the necessary operating capital to transition from development to full-scale manufacturing.
CEO Peter Faricy expressed confidence in the company’s trajectory following the successful funding round.
“Our Series C round of funding will enable Slate to reach the next stages of production this year: on time and on budget,” said Faricy. “We can’t wait for our future customers to preorder their Slate Trucks beginning in June.”
A Modular Revolution: The Slate Truck
What sets the Slate Truck apart is its innovative, customizable platform. Unlike traditional vehicles, every Slate Truck is built in a singular configuration.
This provides for massive manufacturing efficiencies. After delivery, the vehicle can be transformed through accessorization from a 2-seat pickup into a 5-seat SUV.
In addition, the truck is aggressively priced at an expected cost in the mid-$20,000s. This is at a time when the average new vehicle price continues to climb. Its Manufacturer’s Suggested Retail Price (MSRP) will be revealed in June 2026, coinciding with the opening of official preorders.
“For nearly four years, Slate has remained laser-focused on the steps needed to develop our vehicle and reindustrialize our Warsaw Factory,” said Chris Barman, President, Vehicles. “We will deliver Slate Trucks at nearly half the cost of the average new vehicle—as promised.”
Economic Impact and American Manufacturing
Slate is breathing new life into the Midwest manufacturing corridor. The company is investing nearly $400 million to reindustrialize a factory in Warsaw, Indiana. This project is expected to:
- Create over 2,000 jobs in Kosciusko County.
- Contribute an estimated $39 billion to Indiana’s economy over the next 20 years.
Originally incubated within Re:Build Manufacturing, Slate became an independent entity in 2023 with a dedicated focus on ensuring the next generation of automotive innovation is “Made in America.”
Seamless Charging and Nationwide Service
Slate is prioritizing the ownership experience by removing two of the biggest hurdles for new vehicle buyers: maintenance and charging.
- Charging: Every Slate Truck will feature a standard NACS port, granting drivers access to the Tesla Supercharger network, the largest fast-charging network in the nation.
- Service: Through a partnership with RepairPal, Slate owners will have access to over 4,000 service centers nationwide. With this network, independent shops can handle warranty services and customizations, providing owners with peace of mind.
What’s Next for Slate?
With the first deliveries scheduled for late 2026, Slate is on its way to proving that high-quality, customizable, and affordable vehicles can be made in America.
